Story :  James Goyder   
Photography : Nakarin Banjerdjin
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There is an old maritime saying that, ‘the best day of your life is the day you buy a boat and the next best is the day that you sell it’ but, according to Marine Surveyors Jimmy and Carolyn Watt, while the former might well be the case the latter need not be.

Jimmy Watt

Jimmy has been a Marine Surveyor for 35 years and he and his wife Carolyn have their own company, Siam Surveyors. If you are selling an inferior quality boat then Jimmy and Carolyn are the last people you want as prospective buyers.

Which Boat is Right for You?

A Marine Surveyor is there to help the buyer of new or used boats screen out the good from the bad by identifying flaws and recommending repairs. Jimmy has a diploma in yacht design amongst other qualifications and surveys around 150 boats a year to determine a boats condition, its safety and its value so he is uniquely qualified to offer advice on the pitfalls of buying a yacht.

According to him, “The first thing you need to do is decide what type of boat you want. Is it for fishing? Is it for cruising? Is it for long distance racing? There’s nothing worse than buying a boat and finding it is too small for your needs or too big for your budget. Naturally, a good Broker will lead you in the right direction.

“How often do you use the boat? Perhaps you could consider sharing it? Do you want a new or a used boat? Used is cheaper and often better equipped but may need repairs or upgrades. A good broker should be able to offer some advice and it is also worth talking to fellow sailors.’

“Ideally you should talk to a Marine Surveyor. You can talk to anybody who knows a lot about boats but they might not be aware of all the legal, technical or safety requirements. The cost of getting a survey done is a very small part of the purchase price of the boat, generally less than 0.5%.  It’s a corner that shouldn’t be cut. We very rarely look at a boat and find nothing wrong with it”.

Dealing with People’s Dreams

Both Jimmy and Carolyn agree that buying a boat is a major decision for anyone to make. Carolyn says, ‘You have to remember that you are dealing with peoples’ dreams. Sometimes people have sold their house and put everything into a boat so this is a serious business”.

Inspecting other peoples boats on a daily basis is clearly no barrier to becoming emotionally attached to ones own as Jimmy is quick to acknowledge,

“We recently sold our yacht to someone else and it was traumatic. It felt a bit like selling our daughter into marriage. By the time someone gets to the stage of a survey they have generally set their heart on the boat. When we find things wrong with it we will talk to them and explain how they can repair it. We don’t want them to walk away from it and they very rarely do.”

Pursue your Dream with Caution

Jimmy urges people buying second hand yachts to be cautious because, “You get a second hand boat that’s worth a million dollars new and it’s selling for half that. The reason is that there is literally half a million dollars worth of wear and tear on it. That is why used boats cost less”.

However even buying a new boat does not necessarily guarantee quality, “You should be aware of unscrupulous boat builders. Get a manufacturer with a good reputation and keep away from cheap boats. When you buy a new boat you don’t expect to get it surveyed and if it is from a reputable source it shouldn’t be necessary. However if you are unsure about the source, it is worth getting a survey done. Next week I will be going to Taiwan to inspect a newly built boat and the builder in question has been building boats for 40 years. Boats are so expensive you want to make sure that they are absolutely right”.

Insurance is a major concern for any prospective boat owner and about 50% of Jimmy and Carolyn’s business is with insurance companies. He says, “Underwriters require you to get a boat surveyed because it lessons their risk.

“We are members of the International Institute of Marine Surveyors and every year we have to earn a certain amount of points for ongoing education and in order to remain a member. A broker should give a list of qualified surveyors to their clients and the surveyor should issue a Statement of Competency before being appointed. This gives the buyer a chance to talk to the people who have qualified them. Beware of surveyors who are reluctant to issue a SC. You should also check that underwriters will accept their survey”.

"You have to remember that you are dealing with people's dreams."
Carolyn Watt

While it is Jimmys’ job to find the faults in boats he has clearly lost none of his passion for them and is keen to conclude on a positive note. ‘Buying a boat can be the most enjoyable experience of your life. If you are dreaming of buying a boat you should pursue your dream but find a reputable broker and surveyor and pursue it with caution”.

For further information contact:
Siam Surveyors International Co., Ltd.
199/17 Moo 5, Phuket-Pakok Road, Srisunthorn, Thalang, Phuket
Tel: +66(0)89 288 9645 (24 hours/day)
E-mail: jimmy@siamsurveyors.com    www.siam-surveyors.com